COPPER !
- Thread starter Kooka30
- Start date
Even Copper is catching a bid.
I'm looking at MarketWatch, Copper continuous contract. $5.615 USD
Looking at their long term chart, that Copper price looks like an all time high
No I checked - $5.89 USD intraday high.
Hard assets are looking good ATM
I'm looking at MarketWatch, Copper continuous contract. $5.615 USD
Looking at their long term chart, that Copper price looks like an all time high
No I checked - $5.89 USD intraday high.Hard assets are looking good ATM
Interesting... Copper and silver have a very similar chart formation, along with a similar % increase.Even Copper is catching a bid.
I'm looking at MarketWatch, Copper continuous contract. $5.615 USD
Looking at their long term chart, that Copper price looks like an all time high
Hard assets are looking good ATM
Also interesting that Peak Copper and Silver mining was expected to occur around the same time - between 2028-2032.
For an individual stacking Base Metals is not economic. Unless u can acquire Base Metals at a significant discount to the spot price u will never make money.
I don't know exactly, but scrap metals dealers ( Base Metals ) pay on around 30% of spot price for scrap. Eg, ur 10c AUS with spot at 10.3c of Metals, a scrap dealer would give u 0.3c scrap value, but u need a large volume or else it's not worth his time.
Not a profitable transaction.
The big winners in the scrap trade is the criminals that Steal the Metals & then sell to a scrap dealer. A little story, that I know is true because I was there at the time.
Aluminum Smelters use Copper on their Anodes for smelting Alumina into Aluminum. Pure copper, 7ft long & 6 inches square. 1'st foot is split a cast onto the Anode. That part slowly corrodes & needs replacement. It's sent out to a specialist factory to have the split 1ft removed & replaced with fresh copper. All good to go.
So a truck turns up at the " Stores " building on a Friday. It's after 4.00 pm so the afternoon shift is covering just working stores, no outside stuff. He's late & pleads with the storeman to pick up the copper rods to go out for repair. Pleads that he will loose his job. He has paperwork that looks good ( mmm, inside job for sure ).
So the storeman loads Fucking " 20 tons " of copper rods onto the truck. How do I know ? Because I'm at the stores building to pick up some parts for a repair ( I'm a fitter working there ). I have to wait while the truck is loaded ( only 1 storeman on afternoon shift ). All loaded & he drives of, never to be seen again. Truck disappears. No cameras in the early 1980's.
No cops ( don't want public embarrassment ) but 2 suits turn up from Corporate Head Office. I get questioned. Everyone gets lots of questions, but no answers. About 5 years later I'm a Union Delegate sitting in the Union's site office chatting with the Union Organizer with a few others. I don't know how the question got started but the Copper theft got raised. Later it was just me & the Organizer when he said " on the quiet " the story is that the Copper is/was buried on a farm about 10 km away. He doesn't know if it's still there.
U sit on 20 tons of Copper for 5-10-15 yrs until u get the right price from the right scrap dealer & that's a nice little earner.